It is believed to have been composed around 1824–1826. It was published posthumously in 1851, after Chopin's death. It is dedicated to Madame Katarzyna Sowińska, née Schroeder.

Marked 'a capriccio,' the piece begins with a 14-measure introduction featuring brilliant figuration characteristic of Chopin's early works, followed by the presentation of a German folk song theme in E major, marked Andantino. This is followed by four variations and a finale.

In Variation 1, the theme is varied with a triplet rhythm. Variation 2 takes on a scherzando character. Although the subsequent Variation 3 is marked 'tranquillamente' (calmly), the left-hand figuration bears a resemblance to the Étude Op. 10, No. 12, popularly known as the 'Revolutionary' Étude. Then, in Variation 4, the key shifts to the parallel minor, E minor. Subsequently, the finale abruptly transforms into a bright waltz, concluding the piece with a brilliant coda reminiscent of the opening.